Answer: A greater and fall
Explanation:
Economies of scale are said to exist when inputs are increased by some percentage and output increases by a(n) greater percentage, causing unit costs to fall. This is referred to as the cost advantages obtained by companies when production becomes well organized. One reason for economies of scale is specialization of labor and of machinery. This brings a great input to production because Labour must have mastered his/her field coupled with the help of machinery which will eventually result into a great turn out.
Answer:
<em>A. Big steel, a metal manufacturer that has negligible market share in a slow-growing industry</em>
Explanation:
Price Level Aggregate Demand Aggregate Supply 100 10,000 4,000 200 9,000 5,000 300 8,000 5,000 400 7,000 7,000 500 6,000 8,500 6
vovangra [49]
Answer:
7000
Explanation:
Generally, we can say a system is at equilibrium when the quantity of goods demanded is the same as the quantity of goods supplied. Therefore, for the given economic system, the equilibrium condition is when the aggregate demand (7000) is equivalent to the aggregate supply (7000) when the price level is 400. Thus, the value of the equilibrium output is 7000.
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